Inside Kylie Jenner’s Declining Financial Status As Source Claims Kris Jenner Is ‘Worried’ About Her Spending
It seems Kylie is spending just a little too much these days.
Instagram Kylie Jenner is no stranger to the finer luxuries in life.
She has shown her vast wealth on her Instagram and TikTok, but now Kris Jenner is stepping in and is worried her daughter's spending habits are out of control.
A source close to Kris Jenner says she worries about Kylie Jenner and her expensive purchases.
According to reports from Page Six, the source said: "Kylie has been spending so much that, after she bought the jet, her mother had to step in and tell her to slow down."
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Earlier this week, Kylie posted a photo of her boyfriend, Houston rapper Travis Scott, on Instagram both standing in front of their private jet with the caption, "You wanna take mine or yours?"
She posted to her TikTok showing her collection of expensive cars, and it has previously been rumored that Kylie spends about $300 to $400K monthly for security and about $300K for designer brand clothing.
Kylie's mother, who is also her manager, is imploring her daughter to be more financially savvy by using her wealth to make investments and save for the future.
"Kris is urging her to be more responsible with her money, make wise investments. But Kylie is 24, she has her own brand, and she does what she wants,” said the insider.
Kylie Jenner's wealth has decreased in recent years.
In 2019, when Coty struck a deal with Kylie Cosmetics, they bought 51% of her brand and skin business for an estimated $600 million. The purchase drastically increased Kylie's wealth, prompting her to be named a billionaire by Forbes the same year.
However, in May 2020, Forbes rescinded their article naming Kylie Jenner the "World's Youngest Self-Made Billionaire," stating that both Kylie and Kris Jenner lied about Kylie's net worth and the earnings made from Kylie Cosmetics.
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She was declared to be worth around $900 million, but this would soon fall too.
"Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe," Forbes said in a statement.
It was reported that both Kris and Kylie gave the magazine forged draft tax returns with inflated numbers to assist Kylie in "getting a Forbes cover." Still, Kylie denied the accusations by responding on Twitter.
As of 2022, Forbes declared Kylie holds a net worth of $600 million.
Recently, Kylie Cosmetics was valued at $1.2 billion with her receiving a 49 percent share, so she is still making a good profit, but with her spending going over the top, she may lose the wealth faster than she can acquire it.
Fans claim her products have decreased in quality in recent years.
A beauty fan who tested Kylie's lip kits for Insider compared the original and rebranded one and suggested the quality was severely lacking in the updated formula.
She said the lipstick immediately dried when she put it on, not allowing her to do touch-ups.
"Things only got worse by the end of the day. I checked in after about eight hours — when its dryness became almost unbearable — and noticed that the lipstick faded to a lighter shade and all but disappeared from some spots on my lips," she told Insider.
Kylie did rebrand and relaunch with higher quality products, but many individuals still felt that it just wasn't worth buying due to the pricing and how it performed in public.
Coty's stock lost 13% when Forbes released their accusation article about Kylie Jenner's wealth not being in the billions.
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Kurtis Condra covers entertainment, news, and human interest topics for YourTango. He is also a poet based in San Francisco, California. You can keep up with his poetic journey on Instagram.